Alphanomics: The Informational Underpinnings of Market Efficiency

  title={Alphanomics: The Informational Underpinnings of Market Efficiency},
  author={Charles M. C. Lee and Eric C. So},
This monograph is a compact introduction to empirical research on market efficiency, behavioral finance, and fundamental analysis. The first section reviews the evolution of academic thinking on market efficiency. Section 2 introduces the noise trader model as an alternative framework for market-related research. Section 3 surveys the growing literature on the causes and consequences of investor sentiment. Section 4 examines the role of fundamental analysis in value investing. Section 5… Expand

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